General presentation of the Slack company :
Let's now take the time to learn a little more about the Slack Technologies group in order to better understand how this company can position itself and evolve in its sector of activity.
Slack Tcehnologies Inc. is an American company specialized in the IT sector. More precisely, this group offers a team communication tool called Slack.
This platform thus consists of a set of open and documented application programming interfaces or APIs, development tools and an application directory that lists the applications that have met the guidelines.
Slack member companies and organizations can use this platform to create internal applications and integrations, from simple notifications to complex internal workflows.
As a result, third-party developers create integrations and applications that make it easier for existing customers to engage with their products and find new customers. Slack is thus a layer of business technology where people can work together by connecting all their other software tools and services and can find the information they need.
The Slack Group currently employs 2,045 people worldwide.
The strategic alliances set up by the Slack Group :
Now that you know who Slack's main opponents in the market are, we invite you to find out who its allies are with a few examples of recent large-scale partnerships.
- IBM: In 2020, IBM, which already uses Slack to simplify internal communication for some of its employees, becomes the biggest client of this start-up. The new partnership between the two companies will enable Slack to become the official Internet communication solution for all employees of the IBM group, i.e. no less than 350,000 people. While no details have yet been revealed about this partnership, it is not yet known whether it is the paid version of Slack that will be used by IBM for all its employees or whether a personalized offer that mixes paid and free options has been proposed. However, the announcement of this partnership has had a significant effect on the stock market since, following the announcement, Slack's share price rose by 21% on the NYSE market.
- Amazon: Also in 2020, it is with another international giant, the Amazon group, that Slack has signed a new strategic partnership. The group has also decided to use Slack as a professional messaging system for internal communication. Once again, this partnership with a company of this size allows Slack to gain market share from its competitor Microsoft Teams, still the market leader. According to Slack, the new partnership with Amazon is intended to serve as a strategy for Slack's future leadership in the corporate communications sector.
- Google: Prior to 2017, Slack had also signed a partnership with Google Cloud to introduce new features to its Slack platform, including deeper integrations with Google's services. These new features were implemented in the first half of 2017.
Know the competition of the Slack stock:
Of course, Slack Technologies operates in a particularly competitive sector. It is therefore necessary to know its various competitors on the market before implementing an investment strategy. Here are the main ones:
- Microsoft Teams: This proprietary collaborative communication application published by Microsoft is probably the biggest competitor of Slack Technologies at the present time. It is a service that integrates with Skype and the Microsoft Office 365 suite and offers extensions for other products not published by Microsoft.
- Mattermost: This other application offers an open source, self-hosted chat service. It has been developed in the manner of an internet chat for organizations and companies and is one of the main alternatives to Slack.
- Fleep: Finally, Slack's latest serious competitor is Fleep software, which was created by former Skype employees and is a cloud-based team collaboration tool that integrates group and direct messaging, email and task management.